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Australia’s cattle herd from my perspective isn’t in liquidation, rather it's making way for younger, more productive females to join the herd, encouraged by strong cow prices.
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Looking forwards, continued growth in the herd, driven by the northern production systems could be expected if the 2024-25 wet season delivers.
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An inverted market on the StoneX Cattle swaps from the market indicates supply is expected to pressure prices in Q1 2025.